I have seen overages be FAR more than they would have got even selling it on the open market.. simply because they have no selling cost  no realtor fee.. no closing costs.. etc etc.. they just get a nice fat check.. out here on the west coast this can be 10 to 50k or it can easily be over 100k right into their pocket tax free and expense free. 

I have been reading as much as I can in my free time, books on real estate from Robert Kiyosaki, etc.

My name is Valeriy (not fat Tolstoy).

In Lakeway you can probably get away with less swanky finish out than you can in 78704.  

Each location has a different type of property, price point and exit strategy.Please just do a few things:1) Read about real estate and learn all you can.2) Hit a couple of BP podcasts weekly on topics which interest you.3) Review and analyze as many deals as you can in your local neighborhood and locations you are interested.

I can't find any information on it being legal in my state, but I can in California, and Utah.

My plan is to learn as much as I can, be active on the forums and save as much money as I can in my final years of college so that I can start investing in small multifamily properties in my local area as soon as I graduate. 

Typical Milwaukee 4plex mechanicals, furnaces and water heaters centrally located in the basement.I would not be doing them myself, those days are behind this fat old Sicilian ... ;-)

Don't give up a 4 plex,improve the situation.Improve the property and get better tenants for higher rents.Work the problem,you will regret giving someone else your profits after you sell it.Agents will tell you anything to get you to sell and give them fat commission checks so get honest opinions from people who get no profits from your property.

I'd recommend starting out by listening to as many podcasts as you can in regards to whichever niche you plan on working on.